Location: Crawford County, PA | Metro: Crawford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 16424 is situated in a suburban neighborhood characterized by a relatively small population of 4,503 residents. Only 18.8% of these residents are renters, indicating a primarily owner-occupied area. The median household income stands at $56,186, suggesting a middle-class community. Median home values are listed at $125,347, which is indicative of affordable housing options in the region.
Transitioning into the economic dynamics of rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure contrasts with the actual market rent reported by the Census ACS, which is $804. This discrepancy highlights an opportunity for investors, particularly those involved in Section 8 housing, as the FMR provides a higher subsidy benchmark compared to the current market rates.
Given these parameters, ZIP 16424 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the gap between FMR and market rents means they can secure properties at or below $804 and still benefit from the higher voucher subsidies. For value-add buyers, the potential exists to renovate or improve modestly priced homes to command closer to the FMR, thereby maximizing their rental income while remaining competitive in the local market.
To summarize, ZIP 16424 presents a stable suburban environment with a manageable number of renters and affordable housing. With a favorable disparity between FMR and market rents, it offers a solid investment opportunity for Section 8 investors looking to either maintain passive income streams or actively manage properties for enhanced returns.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.